Convergys Corp. acquires Intervoice, Inc. for $335 million
Clients Convergys Corporation
Jones Day advised Convergys Corporation in its $335 million acquisition of Intervoice, Inc.
Under the agreement, Convergys will commence a tender offer for all outstanding shares of Intervoice common stock for $8.25 per share no later than August 1, 2008. Following completion of the tender offer, the parties will effect a second-step merger in which remaining Intervoice shareholders will receive the same price per share.
The transaction is subject to customary closing conditions and regulatory approvals as well as the valid tender of two-thirds the outstanding shares of Intervoice common stock. Convergys expects the transaction to close in the third quarter of 2008.
Convergys intends to initially fund the transaction through existing and new credit facilities and cash on hand. The tender offer is not subject to a financing contingency. Following the close of the transaction, Intervoice results will be included in the results of Convergys' Customer Management Segment.